Integrafin Holdings will not make an offer for Nucleus Financial Group, it confirmed in a statement on the London Stock Exchange on 4 January.
Back in December, Nucleus confirmed it had received proposals from Transact’s parent company Integrafin and James Hay’s private equity owner Epiris. It also revealed it had held preliminary talks with Allfunds and Aquiline Capital Partners.
Nucleus’s majority shareholder, Sanlam UK, was “understood” to be supportive of the discussions. It owns 52% of the platform group.
Following Integrafin’s decision to back out James Hay is reportedly the last firm left in the mix for Nucleus, after Allfunds and Aquiline dropped out of the race as well.
Nucleus has said a further announcement will be made in due course, as and when appropriate.
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